Brazil’s President Luiz Inácio Lula da Silva is set to embark on an important diplomatic and business mission to Vietnam next week, accompanied by a delegation of executives from key Brazilian companies, including planemaker Embraer and food giant JBS.
The visit, Lula’s second to Vietnam as president, highlights the growing ties between the two countries as they explore new avenues for collaboration and trade.
Vietnam, under increasing pressure from the Trump administration to address its large trade surplus, has committed to boosting imports, including agricultural products like soybeans. As a leading exporter of soybeans to the U.S., Brazil is positioned to strengthen its role in Vietnam’s supply chain.
“Lula is expected to invite Vietnam to attend a BRICS summit in Brazil in July,” a Brazilian official said, noting Vietnam was invited last year to become a BRICS partner but has so far refused to take an official stand on the matter.
Lula’s visit comes at a time when Brazil aims to expand its presence in Vietnam’s rapidly developing economy, which has seen significant growth in sectors like defense, agriculture, and energy.
Discussions between the two nations are expected to center on an action plan that could include joint initiatives in ethanol production—a sector where Brazil is a global leader. Additionally, Brazil is eager to tap into Vietnam’s burgeoning market for beef, seeking to have its beef products authorized for importation.
The potential approval of Brazilian beef exports is critical for JBS, which is exploring a major investment in a meat-processing plant in northern Vietnam, a first for the company in Asia.
In the aviation sector, Embraer is also pursuing potential deals, including the sale of ten E190 jets to Vietnam Airlines. Additionally, the Brazilian company is in talks to sell C-390 military transport planes, with a demonstration flight planned for May. As one of the fastest-growing aviation markets globally, Vietnam presents a key opportunity for Brazil’s aerospace industry, further solidifying the growing economic partnership between the two nations.
